Seguros Lagun Aro Selects Akur8 to Streamline Their Insurance Pricing Process

Akur8, the next generation insurance pricing and reserving solution powered by Transparent AI, is proud to announce its new collaboration with Seguros Lagun Aro, a leading name in the Spanish insurance market. This partnership aims to enhance Seguros Lagun Aro’s pricing processes with Akur8’s state-of-the-art technology, promising significant improvements in efficiency and pricing accuracy for their Property and Casualty offering.

Seguros Lagun Aro is a well-established Spanish insurer known for its commitment to social responsibility and customer-focused solutions. Headquartered in Bilbao, the group offers a diverse range of insurance products and services, continuously adapting to the evolving needs of its P&C personal and commercial lines clientele.

Specifically developed for insurers, Akur8’s solution empowers pricing teams to make better decisions faster, by automating risk modeling using proprietary transparent machine learning technology. The core benefits for insurers include increased predictive performance and speed-to-accuracy for higher market reactivity and immediate business impact, while maintaining full transparency and control of the models created.

“We are thrilled to partner with Seguros Lagun Aro, a company that shares our commitment to innovation and excellence in insurance. This collaboration underscores the transformative potential of AI in the insurance industry,” said Samuel Falmagne, CEO of Akur8.

“We are excited to welcome Seguros Lagun Aro to our growing client base in Spain, a leading market in pricing sophistication. With Akur8’s intuitive, cloud-based platform, Seguros Lagun Aro will streamline their pricing process, saving time and boosting transparency,” stated Brune de Linares, Chief Client Officer at Akur8.

By adopting Akur8’s innovative pricing technology, Seguros Lagun Aro will significantly streamline its pricing process, allowing for faster and more accurate model creation. During the pilot phase, Seguros Lagun Aro created rate models and appreciated Akur8’s live business support, the solution’s ease of use and the transparency it provides over the variable selection and model inspection.

“We are implementing Akur8’s pricing solution to enhance our ability to build models with speed and precision. We hope that the automated features and advanced analytics will streamline our processes, allowing us to develop and refine pricing models that respond effectively to market dynamics. This partnership with Akur8 is pivotal in enabling us to elevate our pricing strategy and maintain a competitive edge,” said Cristina Galindo Astobieta, Non-Life Statistical Control Technician at Seguros Lagun Aro.